Despite 89% Revenue Surge, Deficit Continues Due to R&D Investments
LivsMed announced on February 27 that it recorded revenue of 51,192 million won last year, marking an 88.8% increase compared to 27,121 million won in the previous year. During the same period, the net loss decreased to 22,874 million won from 26,504 million won a year earlier, reflecting improved profitability.
Domestic sales reached 45,684 million won, a 94.9% increase from the previous year. Overseas sales also rose by 49.3% to 5,508 million won. In particular, sales from overseas subsidiaries grew by 52.8% to 4,444 million won, demonstrating the company's global market expansion trend.
The ongoing deficit was mainly due to investments in research and development. Expenses were incurred for the development and launch preparation of the surgical robot 'STARK', obtaining certifications for the surgical stapler 'Artistepler' and laparoscopic camera 'LivsCam', and pioneering overseas markets for the vascular closure device 'Artisyl'. The company explained that as revenue has grown, the scale of losses has narrowed, thereby improving its profit structure.
LivsMed has established a product portfolio covering the entire minimally invasive surgical process, including the multi-joint surgical device 'Artisential', vascular closure devices, staplers, laparoscopic cameras, and surgical robots. In November last year, Artistepler and LivsCam obtained domestic medical device certifications.
The company plans to officially launch these new products this year and nurture them as new sources of revenue. The surgical robot STARK is also under development with the goal of obtaining domestic certification within this year. Lee Jeongjoo, CEO of LivsMed, stated, "We will strengthen our foundation for mid- to long-term growth through the launch of new products and full-scale expansion of the surgical robot business."
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